One of the primary drivers for this market is the rising investment in smart grid technology. Rising population in different countries has resulted in increased power consumption. Consequently, countries like India, China, UK, and the US have been compelled to tap into renewable sources of energy and are now upgrading to smart grids to meet the rising global demand for power. Smart grids are expected to cut down losses in the transmission and distribution of power and balance the demand and supply of electricity effectively. The net result is that investments in smart grid technology have helped to propel the growth of smart grid IT systems too. The emergence and installation of smart grids has resulted in the growth of innovative power supply technologies, which in turn will have a positive impact on the growth of the smart energy market until the end of 2020.

The Global Smart Energy market will grow at a stupendous CAGR of almost 15% during the forecast period.

The Americas dominated the global smart energy market in 2015 and will account for approximately 39% of the total market share by 2020. Among all the countries in the Americas, the US is the biggest contributor due to higher investments in smart grids. In this region, a budget of USD 9 billion has been allocated to the Smart Grid Stimulus Program, which has to be utilized for the development and deployment of integrated smart grid systems. This increase in the amount of investments will lead to the strong growth of this market in the Americas.

The global smart energy market is moderately competitive with the major vendors competing in terms of price, quality, and market presence. These vendors have a large portfolio of energy-related equipment and services in smart grid, HEMS, digital oil fields, and smart solar, which can be customized as per the needs of the consumers.

The report will make detailed analysis mainly on the development environment, Market size, development trends, operation situation and future development trends of Smart Energy Market on the basis of current situation of the industry in 2019 so as to make full comprehension and judgment on the competitive situation of Smart Energy Market Carrier and assist manufacturers and investment organization to better grasp the development course of Smart Energy Market.

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